USDCAD - Small retrace to retest structure?
PAIR IN FOCUS: USDCAD
ACTION: LONG
HORIZON: SHORT-TERM
Price is currently in a downtrend, however, we could see a small price retrace to retest a structure level before continuing another bearish leg. On a lower time frame, we can see that price has broken and retested a small support. Possible target would be the structure level, with stop loss below this candle.
Let's see how this goes!
ACTION: LONG
HORIZON: SHORT-TERM
Price is currently in a downtrend, however, we could see a small price retrace to retest a structure level before continuing another bearish leg. On a lower time frame, we can see that price has broken and retested a small support. Possible target would be the structure level, with stop loss below this candle.
Let's see how this goes!
Trade closed: stop reached
TP reached in a flash!Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.